Ok, it looks like there will be no extension of the federal homebuyer tax credit, BUT mark your calendars. Beginning May 1, California will be offering a $10,000 homebuying tax credit.
Jonas Kruckenberg wrote a great article at Wannanetwork.com on all of the highlights.
This program would apply to any taxpayer buying a new home and a first-time homebuyer buying an existing or new home. The purchase must be a “qualified principal residence”. $200 million of state money has been set aside for this program and it is based on a first come, first serve basis.
This program may help up to 20,000 homebuyers. Check out the full article at the above link.